One rung of a discount and fine ladder: pay within so many days of the due date and this percentage applies. A negative percentage is a discount for paying early, a positive one is a fine for paying late.
When to use it
When you set up, or change, the early-payment discount and the late-payment fine on a rent or utility bill.
Before you start
- The Discount Policy the rung belongs to must already exist. A rung on its own does nothing.
- You need the rental masters right.
Where to find it
Masters > Rental > Discount Slab.
The fields on this screen
| Field (on screen) | What to enter | Required |
|---|---|---|
| Policy | The fine or discount ladder this rung belongs to. A ladder is assigned per customer and service. | No |
| Within Days | Days from the due date up to which this rung applies. The due date itself counts as day 1. | No |
| Percentage | Percentage for this rung, written like 10% or -3%. A minus sign makes it a discount instead of a fine. | No |
| Bound Type | Days after due date uses the number you typed. End of the due month stretches it to that month's length. | No |
How it works
When a bill is settled, MISAC counts the days from the due date to the payment date, with the due date itself as day one. It then reads the policy's rungs from the smallest Within Days upward. The first rung whose Within Days is at least that count decides the percentage.
- A payment later than the last rung takes the last rung's percentage. So the last rung is your standing late-payment charge, however late the payment is.
- The rungs are always read from the smallest day count upward, whatever order you enter them in. A rung added later still lands in the right place.
- Bound Type changes what the day count is measured against. Days after due date uses the number you typed. End of the due month ignores that number and uses the real length of the month the bill was due in. It is the only way to say "up to the end of the same month", since a month can run from 29 to 32 days.
A policy reaches a customer only through Policy Assignment, or through the single default policy set for the whole company. Rungs alone charge nobody.
Worked example
A policy with four rungs, against a bill due on the 1st:
| Within Days | Percentage | Effect |
|---|---|---|
| 10 | -3 | paid 1st to 10th: 3 percent off |
| 12 | 0 | paid 11th or 12th: nothing either way |
| 30 | 10 | paid 13th to month end: 10 percent fine |
| 5000 | 15 | paid the next month or later: 15 percent fine |
Tips and common mistakes
- Enter the sign. A discount is a negative percentage. If you leave it positive, your early-payment discount becomes a fine.
- Within Days and Percentage must be numbers, and the screen refuses text. Both are read as numbers when a bill is settled.
- Give every policy a final rung with a very large day count. Without one, the harshest rung you entered becomes the charge for a payment that is years late.
Related guides
- Discount Policy, Policy Assignment, Service, Rental Receipt.